Launch DJED: The Innovative Stablecoin to Tackle Volatility!

• Cardano and COTI have been developing DJED, a new-age stable coin that will power transactions and innovations for two of the fastest blockchains on earth.
• The coin is pegged to an inherently stable asset (like the US Dollar) which helps stabilize its value. It uses overcollateralization for providing stability.
• DJED will be deployed on mainnet soon and investors would be able to purchase DJED and SHEN through ADA.

What Is DJED?

Cardano and COTI have been partnering for over a year towards the development of DJED, a new-age stable coin that will power transactions and innovations for two of the fastest blockchains on earth. Stablecoins seek to solve the volatility issue which has plagued the crypto industry since its inception by pegging an asset to an inherently stable one (like the US Dollar), thus stabilizing its value. DJED could be one of the most innovative stablecoins in the market due to its various features.

How Would DJED Work?

DJED would be available to the investors once the mainnet is live (by 1st February). Investors would be able to purchase DJED and SHEN through ADA. The SHEN token would be used as a reserve token for the stablecoin, despite it not being pegged to any fiat currency like USD or Yen, it still seeks stability using overcollateralization technique.

Overcollateralization Of DJED

Overcollateralization is a technique of providing stability to a currency by using collateral which is higher in value than the asset itself. In case of DJED, it has an over-collateralization ratio of 400-800%. This means that for every DJED, 400 – 800% worth of collateral in terms of SHEN tokens will exist at all times making it secure against any price fluctuations or volatility in market prices.

Cardano’s Recovery After FTX Crash

Cardano, a blockchain which strives to promote innovative projects, has shown great recovery ever since FTX crash which had pushed ADA (Cardano’s currency) below $0.30 mark. Despite this crash Cardano still remains one of fastest growing blockchains due its ability to support novel projects such as Djed among many others which promote financial inclusion in developing countries with their efficient infrastructure and low transaction costs compared to traditional banking systems .

Conclusion

In conclusion, Djed could revolutionize how people use cryptocurrencies as payment methods due its secure nature arising from overcollateralization mechanism as well as promoting financial inclusion with low transaction fees offered by Cardano blockchain . With more than 16 years combined experience between Coti & Cardano teams we can expect some real revolutionary steps when this project finally goes live soon .